There are different types of online discount stock brokers and also full service stock brokers. Discount brokers offer very limited services with no personal attention, usually just fast order execution at minimal costs. Don’t expect too much help or assistance from them because you pay for the execution only.
If you need advice about which stocks to buy or when to buy, then you should go with a full service broker who gives you the personal attention you need. He will discuss trading strategies with you, make investment plans and execute the trades for you. You can learn a lot from an experienced stock broker who is active in the stock market for years or decades already.
Less than 30 years ago, there have only been full service brokers. Their extraordinary fees made their services available to wealthy stock investors only. These brokers controlled the market until the first discount brokers came in.
There have always been many investors who made their own research and knew what they want to buy or sell and didn’t want to pay the high fees of the full service stock broker. The discount brokers became very popular quickly. With the upcoming...